Cryptocurrency analyst il Capo of Crypto, generally known for his bearish views, talked about Ethereum (ETH) in his latest statement.
According to the analyst, ETH price has bounced nicely from the support zone. The analyst argued that there is a good situation for ETH to continue the bullish trend on the lower time frame charts. According to il Capo, turning resistance at the $3,300 level into support could represent a bullish confirmation for higher prices, potentially including a new all-time high.
In addition, the analyst said that the ETH/BTC pair is also looking good and he believes that altcoins along with ETH will outperform Bitcoin in the coming days.
The analyst, who is often known for his bearish statements that the market will fall, shared one of his rare bullish analyses.
Ethereum price is trading at $ 3,135 at the time of writing this article. On Tuesday, when Bitcoin fell below $ 57,000, the price of ETH dropped to around $ 2,700. However, the world's largest cryptocurrency is currently hovering around $63,700.
*This is not investment advice.
